In the U.S., Klarna added 1 million new consumers per month in the last quarter.

“The last year has created unprecedented change in the global economy which has transformed how consumers bank, shop, and pay. Klarna has adapted well, supporting retailers to move online at pace while continuing to provide consumers with superior shopping experiences and payment options that meet their evolving needs” – Sebastian Siemiatkoski, Klarna co-founder and CEO, in the fintech’s 2020 Financial Report. (CISION PR Newswire)

Key Highlights 2020

• Record Gross Merchandise Volume was achieved across the fintech’s platform, up 46% to USD 53bn / SEK 484bn (2019: USD 35bn/SEK 332bn)
• 40% increase in Total Net Operating Income to USD 1.087bn / SEK 10bn (2019: USD 753m / SEK 7.155bn), breaking the $1 billion threshold for the first time.
• Net profit was lower in line with expectations as operating expenses increased to deliver ambitious expansion
• Credit losses down across all major markets
• 87 million global active consumers; 250,000+ retailers
• In the U.S., 15 million consumers were shopping with Klarna by January 2021, after the company added a million users a month in the last quarter
• Launched its pay later offering in four new markets: Australia, Belgium, Spain, and Italy
• Launched savings accounts in Sweden, current accounts in Germany, and Klarna’s Vibe loyalty program in the US and Australia
• A record 18 million consumers used the Klarna app during the year

Apart from the strong annual numbers, there may more good news around the corner.

Klarna may raise $1 billion

A Bloomberg report said Tuesday that Klarna may soon raise $1 billion at a record valuation of $31 billion. Note that it was valued at only $10.65 billion at the time of its last raise of $650 million in September 2020.

The fintech would therefore become the most valuable fintech in Europe.

Further, according to the Bloomberg report, the company may go public next year.

Related Story:  Klarna’s Funding Binge On Course For A $1B Raise